Annual report 2025

Comments from the CEO

Continuing post-divestment success sets the Lasernet Group up for the future

A year of change

The Lasernet Group’s net sales in 2025 were SEK 242 million (222), a year-on-year increase of 9 per cent, corresponding to organic growth of 22 per cent. Annual recurring revenue increased to SEK 217 million (200), equivalent to 89 per cent of net sales. At SEK -49 million (-14), EBIT were significantly impacted by one-time costs related to the reorganisation and divestment of the Public Sector business area. Adjusted for these one-time items, the underlying EBIT margin improved from -5 per cent to +6 per cent, driven by a lower cost base. Overall, growth in sales and the cost cutting we have implemented demonstrate the strength of our business model as the Lasernet Group enters 2026 as an independent company.

For Formpipe, 2025 was an eventful year that ended with the company now standing strongly on its own two feet under the new name the Lasernet Group. The focus is now clearly on software as a service (SaaS) solutions for output management, which will give new momentum to the Lasernet Group’s marketing efforts and the development of its customer offering. With revenue continuing to grow, positive cash flow and an organisation in place with a clear commercial focus, we are well placed for expansion into new geographical areas, segments and industries.

Momentum for Dynamics

n 2025, despite negative currency effects, the Lasernet Group increased its recurring revenue in the Dynamics 365 segment. As one of the leading independent software vendor (ISV) solutions for Dynamics, we continue to invest in product development and go-to-market activities, and we are growing alongside our partners in key markets such as the United States and Germany. During the year, we introduced a tiered pricing model that makes it easier to upgrade from the free version to an Enterprise license. The response from our partners has been positive, with several concrete business opportunities arising as a result. In 2026, we will continue to develop applications specifically for Dynamics 365, including a new version of Lasernet for Microsoft Business Central.

Opportunities in other segments

Our strategic banking partner Temenos underwent extensive organisational and strategic changes during 2024 and 2025, which temporarily impacted new sales in parts of the banking and finance segment. Despite this, our long-standing partnership with Temenos remains strong, as evidenced by the Temenos Exchange

I am impressed by the expertise, professionalism and drive that characterise the entire Lasernet Group.

– Sophie Reinius, Acting CEO

We look forward to further developing our relationships with other business systems in the banking and finance sector, such as Thought Machine and Mambu, while also exploring new opportunities in fintech. Although traditional banking remains a core market, we are selectively expanding our involvement in additional ERP ecosystems, including IFS, Infor and SAP.

Product portfolio and innovation

Customers are increasingly seeking solutions that minimise manual work while reducing the risk of document processing errors. At present, Lasernet uses AI-based functions for OCR, language translation and data analysis. In our assessment, AI will increasingly function as a central information hub where data from multiple systems is transformed, processed and contextualised. We continue to explore these possibilities in line with our customers’ needs and the maturity of the technology.

Together, we have laid the foundations for longterm value creation in 2026 and beyond.

– Sophie Reinius, Acting CEO

Currency

The global nature of the Lasernet Group’s operations combined with the strong Swedish krona had a negative impact on revenue during the year to the tune of SEK -28 million. We actively manage local cost structures and pricing to limit the impact of currency fluctuations and recorded a positive currency effect on the cost side of SEK 9 million.

Employees and ESG

The changes implemented during the year have entailed significant adjustment for the organisation. It has been a challenging year for many of our employees and I am impressed by the expertise, professionalism and drive that characterise the entire Lasernet Group. The organisational changes implemented in 2025 have had a company-wide impact. Clarity, collaboration and culture-reinforcing activities will be priority areas during 2026. Our ambition is to create an inspiring work environment in which our employees can thrive and develop.

A strong platform for sustainable growth

Having started 2025 as Formpipe, with two business areas lacking clear synergies, we ended the year as a pure-play SaaS company under the name the Lasernet Group. Following the completed divestment and reorganisation, and armed with clear strategic focus, the Lasernet Group is entering the next phase with a solid foundation for scalable and sustainable growth.

I would like to extend my heartfelt thanks to our employees, partners and customers for their dedication and hard work during a year marked by significant change. Together, we have laid the foundations for long-term value creation in 2026 and beyond. I am proud to be part of the Lasernet Group’s ongoing journey

Sophie Reinius, Acting CEO

The year in brief Key performance indicators 2025